MercadoLibre Stock Dips After Q3 Earnings Miss – Can Brazil Deal Ignite a Rally?
MercadoLibre closed at $2,290 on Oct. 28, up 20% year-to-date, with a market cap near $116 billion. Q3 revenue rose 39% to $7.41 billion, beating estimates, but net income of $421 million missed forecasts. The company announced a deal to sell Casas Bahia appliances and entered Brazil’s online pharmacy market. Shares dipped 1.6% after earnings; most analysts remain bullish with a $2,800 target.